Leading banks will be expected to use the most sophisticated
anti-hacking tools on the market and to be able to recover from
any attack within two hours, said officials briefing reporters
on the plan.

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The rules, which will be finalized after industry input, is
meant to raise cyber security to a top priority for corporate
executives and boards, according to the banking agencies.

Banks with assets of $50 billion or more must satisfy the
new rules that will be finalized in the months ahead, according
to a statement by the Federal Reserve, Office of the Comptroller
of the Currency and Federal Deposit Insurance Corp.

That scope means roughly 40 banks and a variety of non-bank
financial companies would have to comply with the final rules.

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"Covered entities would be required to be capable of
operating critical business functions in the face of
cyber-attacks," the regulators said in a statement.